Automotive Industry Trends: Auto Parts & Tire Stores Start 2014 With 3.1% Sales Increase
Automotive parts and tire stores are showing a sales increase over last year, in one of the important automotive industry trends for 2014.
Brick and mortar auto parts, auto accessory and tire stores showed a 3.7% sales increase in April 2014, over April 2013 (see chart at left).
That’s a strong follow up to a 4.0% increase in March, compared to one year ago in March 2013.
Aftermarket car parts sales YTD: auto parts retail sales up 3.1%
January 2014 showed a 2.5% increase and February had a 2.1% increase, over one year ago. That puts 2014 auto parts retail sales at an overall average increase of 3.1% year to date.
As of April data, 2014 is certainly off to a stronger start than in 2013 which failed to show a sales increase in any month up until October 2013. You have to go back into 2012 to find any consecutive months with a sales increase over the previous year.
2013 was a down year for brick and mortar auto parts stores
Looking at the chart at right, 2013 was down from the previous year, one of only three down years since 2001. The year came in with a 1.5% decrease, following a meager 0.5% increase in 2012.
The year, through April, is showing a 3.1% increase from 2013. If that trend holds for the rest of the year, that would make 2014 the biggest growth year for auto parts stores since 2011.
These sales statistics are for auto parts, accessories and tire retail stores as reported by the US Census Bureau.
We are sorry that this post wasn't useful for you!
Let us improve this post!
Tell us how we can improve this post?
Automotive industry is in growing stage as another retailer group has announced expansion in its company after amazing performance of Automotive sector…